STOCKS TELEGRAPH

Tag: ASIC

  • Tender Offer Sparks American Strategic Investment (NYC) Stock Surge

    Tender Offer Sparks American Strategic Investment (NYC) Stock Surge

    Following the initiation of a tender offer, the shares of American Strategic Investment Co. (NYSE: NYC) are experiencing a notable surge in the current-market trading. At present, NYC’s stock stands at a commendable 28.45% increase, trading at $7.45 on the US stock exchanges.

    Bellevue Capital Partners, LLC, unveiled today its initiation of a tender offer to procure a maximum of 125,000 shares of American Strategic Investment (NYC) common stock. The tender offer stands at a price of $9.25 per NYC share and is slated to conclude on July 5, 2024.

    This offer, presented by Bellevue, exhibits a 67% premium over the closing price of May 3, 2024, underscoring its unwavering faith in the portfolio and underlying assets of American Strategic Investment Co. (ASIC).

    Bellevue maintains its conviction in ASIC’s previously disclosed expanded investment strategy and the enduring value of its common stock. The substantial premium offered reflects Bellevue’s confidence in the enduring performance of American Strategic Investment and its asset portfolio.

    The Tender Offer is extended under the stipulations delineated in the Offer to Purchase and the associated Letter of Transmittal and will expire on July 5, 2024, unless Bellevue opts for an extension or earlier termination. While tendering of common stock remains revocable until that time, withdrawal afterward is only permitted under specific circumstances necessitated by law.

    Conversely, as part of a strategic corporate maneuver, American Strategic Investment finalized a new licensing agreement in the first quarter covering approximately 8,000 square feet, resulting in a portfolio occupancy rate of 87.2%. Moreover, the company’s leasing pipeline encompasses roughly 14,000 square feet.

    American Strategic Investment’s dedicated focus on portfolio management facilitated an occupancy growth exceeding 300 basis points by the end of the first quarter compared to the previous year. Upon completion, NYC’s leasing pipeline is anticipated to elevate occupancy to 87.3%, accounting for terminations.

  • NYC Stock Remained Resilient During Extended Session

    NYC Stock Remained Resilient During Extended Session

    On the evening of Friday, American Strategic Investment Co. (NYSE: NYC) witnessed a notable surge in its stock value during the extended trading session. The shares of American Strategic experienced an impressive uptick, soaring by 12.41% to reach a closing price of $9.99 in the after-hours session. This remarkable recovery came on the heels of a modest decline of 4.75% in the regular trading session, which concluded at $8.89. Notably, this surge in stock value precedes the impending release of the company’s financial results for the current week.

    American Strategic Investment Co. (NYC), often abbreviated as ASIC, is scheduled to unveil its financial performance for the third quarter, which concluded on September 30, 2023. This eagerly awaited announcement is slated for Thursday, November 9, 2023, just prior to the commencement of trading activities on the venerable New York Stock Exchange. To complement this disclosure, NYC will host a conference call and an audio webcast, where they will expound upon the third-quarter results and provide insightful commentary on the company’s overall business performance.

    In a recent strategic move, ASIC successfully executed the sale of a notable property it owned, the iconic “Hit Factory” situated at 421 W. 54th Street. This transaction yielded a substantial sum of $4.5 million. It is worth mentioning that the Hit Factory had remained vacant for a period, and this sale operation has bolstered the company’s cash reserves with approximately $4.2 million.

    Furthermore, the sale has had a salutary impact on the organization’s property-level operating expenses, owing to the elimination of significant costs associated with the aforementioned property. This transaction not only underscores the enduring resilience of the New York City real estate market but also highlights the intrinsic value that astute strategic buyers discern in well-located properties with a rich historical significance. This milestone event holds paramount importance for the company as it actively assesses the strategic composition of its portfolio.

  • Lax crypto regulation in Australia once again highlighted

    Lax crypto regulation in Australia once again highlighted

    The Australian government has been supportive of cryptocurrencies. The government had been trying to make the environment as fostering as possible. Where regulators throughout the globe are moving towards increased cryptocurrency and blockchain regulation, the Australian regulators may be moving in the opposite direction.

    Australian senator Andrew Bragg appeared on Sky News where he stressed the need for strict regulation of the cryptocurrency sphere. The senator is also chairing a senate inquiry into Bitcoin and other cryptocurrencies. He is adamant on increased monitoring of the industry in order to protect consumers.

    The senate inquiry has announced to study the regulatory framework of the cryptocurrency sphere in countries like the United States, Canada, EU, and the United Kingdom in order to be able to evaluate the Australian crypto policies. The policies of Australia on cryptocurrencies are said to need more clarification.

    The Australia Securities and Investment Commission (ASIC) has been trying to create a fostering environment for blockchain innovation. The Australian government has been supportive of cryptocurrencies and grants up to $3 million had been issued for blockchain firms working towards mineral certification and excise tax solutions.

    The Australian blockchain industry had been vocal about the lack of regulation as well. At the Australian Blockchain Conference held in mid-April, the ASIC representative Jonathan Hatch did not receive any positive response from crypto industry leaders. Executives urged that the ASIC study the blockchain technology and the cryptocurrency market more deeply in order to be able to understand the ins and out and better regulate it. While others commented on how ASIC may be stifling growth and innovation in the sector because of its proactive regulating role.

  • Rampant Increase In Crypto Scams – Is ASIC’s stance too weak?

    Rampant Increase In Crypto Scams – Is ASIC’s stance too weak?

    Australian Securities and Investment Commission (ASIC) has been vocal about promoting and supporting the cryptocurrency industry in the country but regulating the crypto sphere is a tricky business and along with most governments throughout the world, the Australians are struggling too.

    Previously, at the Australian Blockchain Conference, senior advisor of strategic intelligence at ASIC – Jonathan Hatch –appealed for collaboration from the crypto industry. Hatch also pointed out towards some of the efforts of ASIC to build trust and harbor innovation in the country. However, Hatch did not receive positive feedback from the crypto industry as most crypto firms regarded ASIC’s cryptocurrency regulation as vague and unclear.

    ASIC commissioner Cathie Armour – speaking today during the Australian Blockchain Conference – furthered the stance of ASIC on the crypto industry. Armour stated that ASIC is working towards improving the financial ecosystem in the country all the while ensuring that stakeholders have confidence in the system. The commissioner was also keen on the idea of incorporating various blockchain products in order to achieve ASIC’s goal. Armour specifically mentioned the distributed ledger technology (DLT) and its potential. ASIC is planning to integrate DLT into its clearing system.

    However, a much as the Australian regulator is keen on supporting the crypto industry strict regulation is also crucial in order to protect consumers. There has been a rampant increase in the number of crypto scams reported. Dating sites and apps have become a hotbed for crypto-asset scams. While last year, during the pandemic the regulator recorded a 20% increase in scam activity. It is now high time the regulator needs to evaluate the existing crypto regulation and whether or not they are doing enough to ensure safety.